National Bank Financial Comments on OceanaGold Co.’s FY2024 Earnings (TSE:OGC)

OceanaGold Co. (TSE:OGC) – Research analysts at National Bank Financial raised their FY2024 earnings estimates for OceanaGold in a report released on Wednesday, May 1st. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $0.31 per share for the year, up from their previous forecast of $0.16. National Bank Financial has a “Outperform Overweight” rating on the stock. The consensus estimate for OceanaGold’s current full-year earnings is $0.32 per share. National Bank Financial also issued estimates for OceanaGold’s FY2025 earnings at $0.58 EPS.

OceanaGold (TSE:OGC) last announced its quarterly earnings data on Wednesday, February 21st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). OceanaGold had a return on equity of 2.29% and a net margin of 3.69%. The firm had revenue of C$363.94 million during the quarter.

Other research analysts also recently issued research reports about the company. BMO Capital Markets lowered their target price on OceanaGold from C$4.25 to C$3.75 in a report on Thursday, February 22nd. CIBC boosted their target price on shares of OceanaGold from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Jefferies Financial Group upped their target price on shares of OceanaGold from C$3.50 to C$4.00 and gave the company a “buy” rating in a report on Monday, April 22nd. National Bankshares dropped their price target on shares of OceanaGold from C$4.75 to C$4.50 in a research note on Thursday. Finally, Desjardins upped their price objective on OceanaGold from C$3.50 to C$4.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$4.17.

OceanaGold Stock Performance

Shares of TSE OGC opened at C$2.95 on Monday. The company’s 50-day moving average is C$2.92. OceanaGold has a 52-week low of C$2.08 and a 52-week high of C$3.50. The stock has a market cap of C$2.10 billion, a P/E ratio of 42.14 and a beta of 1.61.

OceanaGold Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 7th were given a $0.013 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. OceanaGold’s dividend payout ratio is currently 42.86%.

Insiders Place Their Bets

In related news, Director Paul Benson bought 44,400 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of C$2.25 per share, with a total value of C$99,678.00. 0.14% of the stock is currently owned by insiders.

About OceanaGold

OceanaGold Corporation, a gold and copper producer, engages in exploration, development, and operation of mineral properties in the United States, the Philippines, and New Zealand. It explores for gold, copper, and silver deposits. OceanaGold Corporation was founded in 2003 and is based in Vancouver, Canada.